Ashanti Goldfields Corporation

The Ashanti Goldfields Corporation is a gold mining company based in Ghana that was founded by Edwin Cade. The Ashanti Mine, located at Obuasi, 56km south of Kumasi, has been producing since 1897. The mine is sited on one of the world's major gold deposits and is one of the ten largest in the world.

In 1994, the Ghana government, the majority shareholder, announced plans to sell 20-25 percent of its interest in AGC in a share flotation. The company was listed on the London and Ghana stock exchanges. It was the largest flotation ever organised by any gold mining company coordinating and advisory team alone numbered over 200 people. Each of the company's 10,000 employees received five free shares.

In 1996 AGC was listed on the New York Stock Exchange to raise new capital, it was the first African company to appear on Wall Street. In 1999, the company succumbed to an ill-executed gold price hedge led by Goldman Sachs, which drove it to the brink of bankruptcy.

Starting in the late 17th century, the Ashanti king Osei Tutu (c.1695– 1717) and his advisor Okomfo Anokye, established the Ashanti Kingdom, with the Golden Stool of Asante as a sole unifying symbol. Osei Tutu oversaw a massive Ashanti territorial expansion, building up the army by introducing new organization and turning a disciplined royal and paramilitary army into an effective fighting machine. In 1701, the Ashanti army conquered Denkyira, giving the Ashanti access to the Gulf of Guinea and the Atlantic Ocean coastal trade with Europeans, notably the Dutch.

Ashanti Goldfields Corporation

The Ashanti Goldfields Corporation is a gold mining company based in Ghana that was founded by Edwin Cade. The Ashanti Mine, located at Obuasi, 56km south of Kumasi, has been producing since 1897. The mine is sited on one of the world's major gold deposits and is one of the ten largest in the world.

In 1994, the Ghana government, the majority shareholder, announced plans to sell 20-25 percent of its interest in AGC in a share flotation. The company was listed on the London and Ghana stock exchanges. It was the largest flotation ever organised by any gold mining company coordinating and advisory team alone numbered over 200 people. Each of the company's 10,000 employees received five free shares.

In 1996 AGC was listed on the New York Stock Exchange to raise new capital, it was the first African company to appear on Wall Street. In 1999, the company succumbed to an ill-executed gold price hedge led by Goldman Sachs, which drove it to the brink of bankruptcy.

The JSE edged lower on Thursday, with gains by banks offset by losses in gold miners and Naspers ...Gold was also under some pressure after the release of surprisingly hawkish minutes from the US Federal Reserve’s most recent policy meeting.&nbsp; ... AngloGold Ashanti gave up 3.39% to R213.51 and HarmonyGold 3.34% to R29.80....

The coalition of Aggrieved Customers of GoldCoast Fund Management has given government five days to intervene by retrieving their locked up investments or they hit the protest in protest ...Papa Kwesi Nduom and his GCFM Company ... A PRESS RELEASE BY THE COALITION OF AGGRIEVED CUSTOMERS OF GOLDCOASTFUND MANAGEMENT (GCFM) –ASHANTI REGION OF GHANA....

The JSE's gold index pushed past 1,700 points for the first time in nearly six years on Wednesday morning, as the gold price continued to benefit from a weaker dollar and interest in safe-haven assets. Gold is at a ten-month high, boosted ......

JOHANNESBURG – The Association of Mineworkers and Construction Union (Amcu) has threatened to shut down the mining industry in a bid to oppose Sibanye-Stillwater’s plan to cut about 7 000 employees at its ailing gold mines ... Mathunjwa said the secondary strike would hit HarmonyGoldCompany, AngloGold Ashanti and Impala Platinum....

The Association for Mining and Construction Union (Amcu) is threatening to shut the country's gold, platinum and coal mines as a strike at Sibanye-Stillwater heads into its fourth month. The union said on Tuesday that it would get its members to down tools at platinum, coal and gold mines where it has recognition agreements....

Gold miner AngloGold Ashanti achieved its guidance for the sixth consecutive year, with improved margins driving significant growth in free cash flow generation, the company announced on Tuesday morning. � The gold miner further declared a dividend of 95c a share, equal to about $0.07 ...Free cash flow of ... ....